FM seeks comments of states on investment commission recommendations

New Delhi, Oct 4 (UNI) Finance Minister P Chidambaram has sought the views of the Chief Ministers of all states on the recommendations of the Investment Commission.

In his letter, the Finance Minister said the Investment Commission, in its report of February 2006 titled ''Investment Strategy for India'' had made sector specific as well as multi-sectoral recommendations.

The Commission has observed that sustaining growth at over 8 per cent per annum would require an increase in investment levels in the economy from approximately 28 per cent of GDP to about 32 per cent of GDP. Over the next 5 years, this translates to a cumulative investment of about 1.5 trillion dollars.

Mr Chidambaram said many of the recommendations of the Commission are related to State Governments. As investment plays an important role in improving the competitiveness of the economy, the policy of the Government is to maximise the development impact of FDI, he added.

He requested the State Chief Ministers to send their views as early as possible.

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